The market capitalization of Trump-linked dollar stablecoin 1 USD (USD1) has surpassed $5 billion in less than a year, surpassing PayPal's PYUSD to become the fifth largest stablecoin in the world. Its publisher, World Liberty Financial, attributes the rapid growth to aggressive product expansion and widespread adoption by institutional users. However, the company's simultaneous application to establish a national trust bank for issuing stablecoins has sparked scrutiny from regulators, including Senator Elizabeth Warren, making this politically closely tied project a focal point of financial and political debate.
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The market capitalization of Trump-linked dollar stablecoin 1 USD (USD1) has surpassed $5 billion in less than a year, surpassing PayPal's PYUSD to become the fifth largest stablecoin in the world. Its publisher, World Liberty Financial, attributes the rapid growth to aggressive product expansion and widespread adoption by institutional users. However, the company's simultaneous application to establish a national trust bank for issuing stablecoins has sparked scrutiny from regulators, including Senator Elizabeth Warren, making this politically closely tied project a focal point of financial and political debate.